Working Papers | Gerzensee

An uncovered interest parity condition that worked – The continental investment demand for London bills of exchange during the gold standard (1880 -1914).

Nils Herger

Published in:

Swiss Journal of Economics and Statistics

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15.03

Human Capital and the Dynamic Effects of Trade

Raphael A. Auer

Published in:

Journal of Development Economics

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15.02

Capital flow waves to and from Switzerland before and after the financial crisis

Pinar Yesin

Published in:

Swiss Journal of Economics and Statistics

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15.01

Exchange Rate Pass-Through, Domestic Competition, and Inflation: Evidence from the 2005/08 Revaluation of the Renminbi

Raphael A. Auer

Published in:

Journal of Money, Credit and Banking

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14.07

Austerity

Harris Dellas and Dirk Niepelt

Published in:

The Economic Journal

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14.06

Intertemporal discoordination in the 100 percent reserve banking system

Romain Baeriswyl

Published in:

Revista Procesos de Mercado

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14.05

Trade linkages and the globalisation of inflation in Asia and the Pacific

Raphael A. Auer and Aaron Mehrotra

Published in:

Journal of International Money and Finance

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14.04

K-state switching models with time-varying transition distributions – Does credit growth signal stronger effects of variables on inflation?

Sylvia Kaufmann

Published in:

Journal of Econometrics

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14.03

The Cyclical Component of Labor MarketPolarization and Jobless Recoveries in the US

Paul Gaggl and Sylvia Kaufmann

Published in:

Journal of Monetary Economics

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14.02

Horizontal, Vertical, and Conglomerate FDI: Evidence from Cross Border Acquisitions

Nils Herger and Steve McCorriston

Published in:

IMF Economic Review

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14.01

Offshoring and Sequential Production Chains: A General-Equilibrium Analysis

Philipp Harms, Jaewon Jung and Oliver Lorz

Published in:

Canadian Journal of Economics

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13.08

Market Entries and Exits and the Nonlinear Behaviour of the Exchange Rate Pass-Through into Import Prices

Nils Herger

Published in:

Open Economies Review

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13.07

Risk-off Episodes and Swiss Franc Appreciation: the Role of Capital Flows

Irineu de Carvalho Filho

Published in:

German Economic Review

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13.06

Foreign Currency Loans and Systemic Risk in Europe

Pinar Yesin

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13.05

Credibility For Sale

Harris Dellas and Dirk Niepelt

Published in:

Journal of International Economics

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13.04

Bayesian Estimation of Sparse Dynamic Factor Models with Order-Independent Identification

Sylvia Kaufmann and Christian Schuhmacher

Published in:

Journal of Econometrics

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13.03

What Drives Target2 Balances? Evidence From a Panel Analysis

Raphael A. Auer

Published in:

Economic Policy

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13.02

On Discrete Location Choice Models

Nils Herger

Published in:

Economics Letters

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13.01

Product Heterogeneity, Cross-Country Taste Differences, and the Consumption Home Bias

Raphael A. Auer

Published in:

European Economic Review

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12.03

Forecasting Exchange Rates with Commodity Convenience Yields

Toni Beutler

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12.02

Economic and Politico-Economic Equivalence

Martín Gonzalez-Eiras and Dirk Niepelt

Published in:

Review of Economic Dynamics

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12.01

Transmission of Sovereign Risk in the Euro Crisis

Filippo Brutti and Philip Sauré

Published in:

Journal of International Economics

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11.11

The Collateral Channel under Imperfect Debt Enforcement

Toni Beutler and Mathieu Grobéty

Published in:

European Economic Review

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11.10

An FDI is an FDI is an FDI? The growth effects of greenfield investment and mergers and acquisitions in developing countries

Philipp Harms and Pierre-Guillaume Méon

Published in:

Review of International Economics

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11.09

Prices and Choices in the Swiss Health Care Insurance Market

Yves Ortiz

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11.08

Limited Rationality and Strategic Interaction: A Probabilistic Multi-Agent Model

Yves Ortiz and Martin Schüle

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11.07

Surfing the Capital Waves: A sector-level examination of surges in FDI inflows

Salvatore Dell’Erba and Dennis Reinhardt

Published in:

Journal of International Money and Finance

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11.06

Ageing, Government Budgets, Retirement, and Growth

Martín Gonzalez-Eiras and Dirk Niepelt

Published in:

European Economic Review

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11.05

The Journal Rankings of Central Banks

Emanuel Kohlscheen

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11.04

Spatial Competition in Quality, Demand-Induced Innovation, and Schumpeterian Growth

Raphael Auer and Philip Sauré

Published in:

Journal of Economic Theory

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11.03

CHF Strength and Swiss Export Performance – Evidence and Outlook From a Disaggregate Analysis

Raphael Auer and Philip Sauré

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11.02

Low-Wage Import Competition, Inflationary Pressure, and Industry Dynamics in Europe

Raphael Auer, Kathrin Degen and Andreas M. Fischer

Published in:

European Economic Review

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11.01

Development (Paradigm) Failures

Roland Hodler

Published in:

Journal of Development Economics

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2006 - 2010

10.05

Foreign Aid and Enlightened Leaders

Roland Hodler and Paul A. Raschky

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10.04

Compulsory Voting and Public Finance

Roland Hodler

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10.03

The Home Bias in Equities and Distribution Costs

Philipp Harms, Mathias Hoffmann and Christina Ortseifer

Published in:

The Scandinavian Journal of Economics

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10.02

Into the Allocation Puzzle - A Sectoral Analysis

Dennis Reinhardt

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10.01

Biased Experts, Costly Lies, and Binary Decisions

Roland Hodler, Simon Loertscher and Dominic Rohner

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09.06

Deciding to Peg the Exchange Rate in Developing Countries: The Role of Private-Sector Debt

Philipp Harms and Mathias Hoffmann

Published in:

Open Economies Review

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09.05

Product Heterogeneity, Within-Industry Trade Patterns, and the Home Bias of Consumption?

Raphael Auer

Published in:

European Economic Review

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09.04

Can Parameter Instability Explain the Meese-Rogoff Puzzle?

Philippe Bacchetta, Eric van Wincoop and Toni Beutler

Published in:

NBER International Seminar on Macroeconomics

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09.03

The Colonial and Geographic Origins of Comparative Development

Raphael Auer

Published in:

Journal of Economics Growth

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09.02

The Demographics of Expropriation Risk

Philipp Harms and Philipp an de Meulen

Published in:

Journal of Population Economics

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09.01

Offshoring Along the Production Chain

Philipp Harms, Oliver Lorz and Dieter Urban

Published in:

Canadian Journal of Economics

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08.05

Debt Maturity without Commitment

Dirk Niepelt

Published in:

Journal of Monetary Economics

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08.04

Explaining Bank Failures in the United States: The Role of Self-Fulfilling Prophecies, Systemic Risk, Banking Regulation, and Contagion

Nils Herger

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08.03

Monetary Policy in a Small Open Economy Model: A DSGE-VAR Approach for Switzerland

Gregor Bäurle and Tobias Menz

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08.02

Managing Beliefs about Monetary Policy under Discretion

Elmar Mertens

Published in:

Journal of Money, Credit and Banking

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08.01

Are Spectral Estimators Useful for Implementing Long-Run Restrictions in SVARs?

Elmar Mertens

Published in:

Journal of Economic Dynamics and Control

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07.05

Population Ageing, Government Budgets, and Productivity Growth in Politico-Economic Equilibrium

Martín Gonzalez-Eiras and Dirk Niepelt

Published in:

European Economic Review

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07.04

How does private foreign borrowing affect the risk of sovereign default in developing countries?

Oya Celasun and Philipp Harms

Published in:

Economic Inquiry

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07.03

Words, Deeds, and Outcomes: A Survey on the Growth Effects of Exchange Rate Regimes

Philipp Harms and Marco Kretschmann

Published in:

Journal of Economic Surveys

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07.02

The Future of Social Security

Martín Gonzalez-Eiras and Dirk Niepelt

Published in:

Journal of Monetary Economics

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07.01

Random Walk Expectations and the Forward Discount Puzzle

Philippe Bacchetta and Eric van Wincoop

Published in:

The American Economic Review

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06.04

Predictability in Financial Markets: What Do Survey Expectations Tell Us?

Philippe Bacchetta, Elmar Mertens and Eric van Wincoop

Published in:

Journal of International Money and Finance

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06.03

The Stability Pact—Rationales, Problems, Alternatives

Assar Lindbeck and Dirk Niepelt

Published in:

Kyklos

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06.02

Exchange Rate Volatility and Productivity Growth: The Role of Financial Development

Philippe Aghion, Philippe Bacchetta, Romain Ranciere and Kenneth Rogoff

Published in:

Journal of Monetary Economics

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06.01

Financing Government Expenditures Optimally

Pinar Yesin

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2001 - 2005

05.05

Structural Shocks and the Comovements between Output and Interest Rates

Elmar Mertens

Published in:

Journal of Economic Dynamics and Control

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05.04

Starving the Beast? Intra-Generational Conflict and Balanced Budget Rules

Dirk Niepelt

Published in:

European Economic Review

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05.03

Incomplete Information Processing: A Solution to the Forward Discount Puzzle

Philippe Bacchetta and Eric van Wincoop

Published in:

American Economic Review

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05.02

Shock Identification of Macroeconomic Forecasts based on Daily Panels

Marlene Amstad and Andreas M. Fischer

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05.01

Measuring Income Elasticity for Swiss Money Demand: What do the cantons say about financial innovation?

Andreas M. Fischer

Published in:

European Economic Review

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04.07

Timing Tax Evasion

Dirk Niepelt

Published in:

Journal of Public Economics

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04.06

Sequential Information Flow and Real-Time Diagnosis of Swiss Inflation: Intra-Monthly DCF Estimates for a Low-Inflation Environment

Marlene Amstad and Andreas M. Fischer

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04.05

Foreign aid and developing countries’ creditworthiness

Philipp Harms and Michael Rauber

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04.04

Price Clustering in the FX Market: A Disaggregate Analysis using Central Bank Interventions

Andreas M. Fischer

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04.03

Higher Order Expectations in Asset Pricing

Philippe Bacchetta and Eric van Wincoop

Published in:

Journal of Money, Credit and Banking

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04.02

Tax Collection Costs, Tax Evasion and Optimal Interest Rates

Pinar Yesin

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04.01

A Scapegoat Model of Exchange Rate Fluctuations

Philippe Bacchetta and Eric van Wincoop

Published in:

The American Economic Review

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03.07

Optimal Cyclical Monetary Policy: Does Steady-State Inflation Matter?

Samuel Reynard

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03.06

On the Inadequacy of Newswire Reports for Empirical Research on Foreign Exchange Interventions

Andreas M. Fischer

Published in:

Journal of International Money and Finance

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03.05

The New Basel Accord: Implications of the Co-existence between the Standardized Approach and the Internal Ratings-based Approach

Bertrand Rime

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03.04

Aid, Governance, and Private Foreign Investment: Some Puzzling Findings and a Possible Explanation

Philipp Harms and Matthias Lutz

Published in:

The Economic Journal

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03.03

Understanding Reserve Volatility in Emerging Markets: A Look at the Long-Run

Ricarda Demarmels and Andreas M. Fischer

Published in:

Emerging Markets Review

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03.02

Can Information Heterogeneity Explain the Exchange Rate Determination Puzzle?

Philippe Bacchetta and Eric van Wincoop

Published in:

The American Economic Review

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03.01

Fixing Swiss Potholes: The Importance and Cyclical Nature of Improvements

Michael J. Dueker and Andreas M. Fischer

Published in:

Economics Letters

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02.08

Product Market Deregulation and Labor Market Outcomes

Monique Ebell and Christian Haefke

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02.07

Deregulation and the current account

Philipp Harms

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02.06

Growing into and out of social conflict

Philipp Harms and Stefan Zink

Published in:

Economica

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02.05

Why Do Consumer Prices react less than Import Prices to Exchange Rates?

Philippe Bacchetta and Eric van Wincoop

Published in:

Journal of the European Economic Association

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02.04

The Relationship Between Risk and Capital in Swiss Commercial Banks: A Panel Study

Robert Bichsel and Jürg Blum

Published in:

Applied Financial Economics

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02.03

Fluctuations in the Swiss Franc: What has Changed Since the Euro's Introduction?

Andreas M. Fischer

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02.02

Understanding Reserve Volatility in Emerging Markets: A Look at the Last Thirty Years

Ricarda Demamerls and Andreas M.Fischer

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02.01

Stochastic Capital Depreciation and the Comovement of Hours and Productivity

Dueker, Michael J., Andreas M. Fischer and Robert D. Dittmar

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01.07

A Theory of the Currency Denomination of International Trade

Philippe Bacchetta and Eric van Wincoop

Published in:

Journal of International Economics

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01.06

Do Depositors Discipline Swiss Banks?

Urs W. Birchler and Andréa M. Maechler

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01.05

A Corporate Balance-Sheet Approach to Currency Crises

Philippe Aghion, Philippe Bacchetta and Abhijit Banerjee

Published in:

Journal of Economic Theory

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01.04

Bank Integration and Business Volatility in the U.S.

Don Morgan, Bertrand Rime and Philip Strahan

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01.03

The Performance of Universal Banks: Evidence from Switzerland

Bertrand Rime and Kevin J. Stiroh

Published in:

Journal of Banking & Finance

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01.02

The Mechanics of a Successful Exchange-Rate Peg: Lessons for Emerging Markets

Michael Dueker and Andreas M. Fischer

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01.01

Why Are Asset Returns More Volatile during Recessions? A Theoretical Explanation

Monique C. Ebell

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1996 - 2000

00.14

Are Banks Excessively Monitored?

Urs W. Birchler

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00.13

Financial Development and Stock Market Performance

Harris Dellas and Martin K. Hess

Published in:

Journal of International Money and Finance

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00.12

Alternative Indicator of Monetary Policy for a Small Open Economy

Nicolas A. Cuche

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00.11

Trade Flows, Prices, and The Exchange Rate Regime

Philippe Bacchetta and Eric van Wincoop

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00.10

Monetary Policy with Forward-looking Rules: The Swiss Case

Nicolas A. Cuche

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00.09

The Politics of Trade Liberalization in the Presence of FDI Incentives

Andréa M. Maechler

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00.08

The Limits of Market Discipline in Reducing Banks' Risk Taking

Jürg Blum

Published in:

Journal of Banking & Finance

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00.07

Currency Crises and Monetary Policy in an Economy with Credit Constraints

Philippe Aghion, Philippe Bacchetta and Abhijit Banerjee

Published in:

European Economic Review

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00.06

Financial Development and the Sensitivity of Stock Markets to External Influences

Harris Dellas and Martin K. Hess

Published in:

Review of International Economics

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00.05

Bank Capital Behaviour: Empirical Evidence for Switzerland

Bertrand Rime

Published in:

Journal of Banking & Finance

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00.04

Do Interventions Smooth Interest Rates?

Andreas M. Fischer

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00.03

Monetary Policy with Foreign Currency Debt

Philippe Bacchetta

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00.02

The UBS-SBC Merger and Competition in the Swiss Retail Banking Sector

Dominik Egli and Bertrand Rime

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00.01

Bankruptcy Priority for Bank Deposits: a Contract Theoretic Explanation

Urs W. Birchler

Published in:

The Review of Financial Studies

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99.06

Estimating the Term Structure of Interest Rates: The Swiss Case

Iwan Meier

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99.05

A Simple Model of Monetary Policy and Currency Crises

Philippe Aghion, Philippe Bacchetta & Abhijit Banerjee

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99.04

Trade Credit and the Bank Lending Channel

Jeffrey H. Nilsen

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99.03

Modeling Financial Fragility in Transition Economies

Jeffrey H. Nilsen and Riccardo Rovelli

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99.02

Estimating Monthly GDP in a General Kalman Filter Framework: Evidence from Switzerland

Nicolas A. Cuche and Martin K. Hess

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99.01

Capital Markets and the Instability of Open Economies

Philippe Aghion, Philippe Bacchetta and Abhijit Banerjee

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98.03

Why Did Czech Banks Switch From Loans in 1995?

Jeffrey H. Nilsen

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98.02

Financial Liberalization and Volatility in Emerging Market Economies

Philippe Aghion, Philippe Bacchetta Philippe and Abhijit Banerjee

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98.01

Capital Flows to Emerging Markets: Liberalization, Overshooting and Volatility

Philippe Bacchetta and Eric van Wincoop

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97.01

Consumption and Credit Constraints: International Evidence

Philippe Bacchetta and Stefan Gerlach

96.01

Trade in Nominal Assets and Net International Capital Flows

Philippe Bacchetta and Eric van Wincoop

1991 - 1995

95.11

Exchange-of-information Clauses in International Tax Treaties

Philippe Bacchetta and María Paz Espinosa

95.10

Exchange Rate Policy and Disinflation: The Spanish Experience in the ERM

Philippe Bacchetta

95.09

Do Capital Market Imperfections Exacerbate Output Fluctuations?

Philippe Bacchetta and Ramon Caminal

95.08

The Impact of Monetary Policy and Bank Lending: Some International Evidence

Philippe Bacchetta and Fernando Ballabriga

95.07

American vs. European Option Pricing Models: Does it Really Matter?

Walter Wasserfallen

95.06

Portfolio Insurance for the Small Investor

Walter Wasserfallen and Christoph Schenk

95.05

Capital Controls and the Political Discount: The Spanish Experience in the Late 1980s

Philippe Bacchetta

95.04

The Hedging Performance of Swiss Interest Rate Futures

Walter Wasserfallen and Daniel Liechti

95.03

Firm Restructuring and the Optimal Speed of Trade Reform

Philippe Bacchetta and Harris Dellas

95.02

Interest Rate Differentials and the Structure of Banks' Balance Sheets

Walter Wasserfallen

95.01

Foreign Equity Investment Restrictions, Capital Flight, and Shareholder Wealth Maximization, Theory and Evidence

René M. Stulz and Walter Wasserfallen

94.03

Net Capital Flows under Exchange Rate and Price Volatility

Philippe Bacchetta and Eric van Wincoop

94.02

Information Sharing and Tax Competition among Governments

Philippe Bacchetta and María Paz Espinosa

94.01

Regional Investment and Growth in the European Community

Philippe Bacchetta

93.03

Pricing Initial Public Offerings, Evidence from Germany

Walter Wasserfallen and Christian Wittleder

93.02

Money, Interest Rates and Exchange Rates in the Short Run

Walter Wasserfallen and Guido Kürsteiner

93.01

Stock and Option Markets: The Swiss Evidence

Thomas Stucki and Walter Wasserfallen

Gerzensee Working Papers

2021 - 2025

2016 - 2020

2011 - 2015

2006 - 2010

2001 - 2005

1996 - 2000

1991 - 1995